Former state university employee Carman paid in $28K to pension fund, could collect $449K in retirement

By Local Labs News Service

Oct 1, 2018

Former state university employee Linda Carman, who retired in September 2018, saved $28,294 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Carman would collect as much as $448,765, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Carman received $9,432 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Carman will have already received $29,153 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Lincoln Land Community College

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